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LEASES | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
LEASES | LEASES Lessor Information related to Intuitive System Leasing Sales-type Leases. Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):
| As of
| June 30, 2023 |  | December 31, 2022
Gross lease receivables | $ | 414.1 |  |  | $ | 449.4 |
Unearned income | (14.3) |  |  | (14.4) |
Subtotal | 399.8 |  |  | 435.0 |
Allowance for credit loss | (3.0) |  |  | (3.0) |
Net investment in sales-type leases | $ | 396.8 |  |  | $ | 432.0 |
Reported as: |  |  |
Prepaids and other current assets | $ | 134.6 |  |  | $ | 131.2 |
Intangible and other assets, net | 262.2 |  |  | 300.8 |
Net investment in sales-type leases | $ | 396.8 |  |  | $ | 432.0 |
Contractual maturities of gross lease receivables as of June 30, 2023, are as follows (in millions):
Fiscal Year | Amount
Remainder of 2023 | $ | 70.3 |
2024 | 134.0 |
2025 | 103.5 |
2026 | 66.6 |
2027 | 33.3 |
2028 and thereafter | 6.4 |
Total | $ | 414.1 |
The Company enters into sales-type leases with certain qualified customers to purchase its systems. Sales-type leases have terms that generally range from 24 to 84 months and are usually collateralized by a security interest in the underlying assets. The allowance for loan loss is based on the Company’s assessment of current expected lifetime losses on lease receivables. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, age of the lease receivable balances, and current economic conditions that may affect a customer’s ability to pay. Lease receivables are considered past due 90 days after invoice. The Company manages the credit risk in net investment in sales-type leases using a number of factors, including, but not limited to the following: size of operations; profitability, liquidity, and debt ratios; payment history; and past due amounts. The Company also uses credit scores obtained from external providers as a key indicator for the purposes of determining credit quality. The following table summarizes the amortized cost basis by year of origination and by credit quality for the net investment in sales-type leases as of June 30, 2023 (in millions):
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Net Investment
Credit Rating: |  |  |  |  |  |  |  |  |  |  |  |  |
High | $ | 27.1 |  |  | $ | 86.2 |  |  | $ | 70.9 |  |  | $ | 32.9 |  |  | $ | 10.0 |  |  | $ | 0.6 |  |  | $ | 227.7 |
Moderate | 9.8 |  |  | 57.2 |  |  | 58.7 |  |  | 28.4 |  |  | 6.8 |  |  | 3.0 |  |  | 163.9 |
Low | — |  |  | 3.3 |  |  | 3.0 |  |  | 1.9 |  |  | — |  |  | — |  |  | 8.2 |
Total | $ | 36.9 |  |  | $ | 146.7 |  |  | $ | 132.6 |  |  | $ | 63.2 |  |  | $ | 16.8 |  |  | $ | 3.6 |  |  | $ | 399.8 |
For the three and six months ended June 30, 2023, and 2022, credit losses related to net investment in sales-type leases were not material.

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- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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